Rogers Q2 2026: 8% Service Revenue Growth, $4.35B MLSE Buyout, and Sports Monetization Plan
RCI is trading near its 52-week low of $31.38 (11% above the low) on elevated volume (1.8× avg).
Summary
Rogers reported Q2 2026 earnings with 8% service revenue growth and a $4.35 billion agreement to buy the remaining 25% of MLSE, alongside plans to monetize a minority stake in its sports assets.
Key Events · Earnings and Guidance · RCI
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Q2 2026 Earnings Beat
Total service revenue rose 8% to C$5.1 billion, adjusted EBITDA grew 3% to C$2.4 billion, and free cash flow reached C$982 million, up 6% year-over-year.
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MLSE Minority Acquisition
Rogers agreed to acquire the remaining 25% of MLSE from Kilmer Sports Inc. for C$4.35 billion in cash, funded through credit facilities, with closing expected in Q4 2026.
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Non-Cash MLSE Put Liability Loss
A C$1,034 million non-cash loss was recognized due to the revaluation of the MLSE put liability from C$3.3 billion to C$4.35 billion.
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Sports Asset Monetization Plan
After the MLSE acquisition closes, Rogers intends to sell a minority interest in its consolidated sports, media, and entertainment assets to third-party investors to unlock value.
Analysis · RCI · Technology
Rogers delivered strong Q2 results with 8% service revenue growth and 3% adjusted EBITDA growth, while announcing a $4.35 billion deal to acquire the remaining 25% of MLSE. The transaction, funded by credit facilities, will make MLSE a wholly owned subsidiary and is expected to close in Q4 2026. A non-cash loss of $1.034 billion was recognized on the revaluation of the MLSE put liability. Following the close, Rogers plans to sell a minority stake in its consolidated sports and media assets to unlock value. The company reaffirmed its 2026 guidance, signaling confidence in its operational trajectory despite competitive and regulatory headwinds.
At the time of this filing, RCI was trading at $34.80 on NYSE in the Technology sector, with a market capitalization of approximately $18.7B. The 52-week trading range was $31.38 to $41.14. This filing was assessed with positive market sentiment and an importance score of 9 out of 10.